Americans plan to spend a little less on the holidays this year, and most are actively looking for ways to save. According to Circana's 2026 U.S. Holiday Purchase Intentions Study, the average planned spend has dropped to $779, and nearly three in four shoppers plan to cut costs. For many groups of friends and families, that makes a gift exchange look like a very practical way to celebrate.
What's trending
Circana surveyed 3,534 U.S. consumers for its 2026 study, reported by Supermarket News on October 12. The headline numbers:
- Average planned holiday spending is $779, down from $796 last year.
- Circana forecasts fourth-quarter spending somewhere between a 1% decline and a 2.5% increase compared with 2025.
- 74% of respondents plan to adopt money-saving measures, including seeking discounts, buying store brands and cutting discretionary spending.
- Of the 29% who expect to spend more, over half say higher prices are the main reason.
- More than a third are canceling or postponing holiday travel, with some redirecting that money toward celebrations at home, entertaining and gifts.
Deloitte's 2026 Holiday Retail Survey of 4,000 U.S. consumers points the same way. It found that 38% of shoppers are "holiday value seekers" who use five or more money-saving behaviors, and that the average shopper still plans to buy about eight gifts.
Why it's resonating
Eight gifts adds up fast, especially when grocery bills and everyday prices are already squeezing household budgets. Shoppers aren't giving up on the holidays. Circana notes they still want gifts that feel meaningful or useful. But they're rethinking how much they buy and for whom.
That's where group gift exchanges come in. Instead of buying something for every friend, coworker or cousin, everyone brings one gift with an agreed limit. Formats like White Elephant (also called Dirty Santa or Yankee Swap), where guests can steal each other's presents, add a game to the gift-giving. Secret Santa assigns each person one recipient. Either way, each guest spends a set amount once instead of many times over.
A budget-friendly party, not a budget-friendly compromise
A gift exchange also lines up with the shift Circana spotted toward celebrating at home. Hosting friends for a White Elephant night costs far less than a night out, and the game itself is the entertainment. A clear gift limit on the invitation, say $20 or $25, keeps things fair and takes the guesswork out of shopping.
Hosts who want the evening to feel special without spending much can start with the invitation. An elegant design, like this navy and gold editable White Elephant invitation, sets a grown-up tone for the night, and you can text it to guests instead of paying for printing and postage.
The bottom line
The 2026 holiday shopper is careful, not cheap: still celebrating, but looking for value everywhere. Swapping a long gift list for a single-gift exchange is one of the simplest ways to keep the fun and lose the financial stress. Expect a lot of groups to try it this December.